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Beginning the process
Reviewing process
Errors and problem codes
Grants
Reconciling and reporting
Q: How do I begin the sampling process?
A: Read these pages:
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Q: What's a profile?
A: A profile specifies criteria to be applied against the population of transactions to generate a sample. A statistician at UCSD developed the transaction sampling criteria, which produce a conservative statistical sample.
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Q: What's a global profile?
A: In the transaction sampling process, the Controller's Office has created a global profile, used by all participants. The global profile specifies how many and what type of financial transactions will be reviewed monthly for each participating unit. Each unit must review all transactions identified by the global profile.
The global profile selects the following kinds of financial transactions:
- A percentage of transactions less than $2,500 in accounts 63xxxx, 64xxxx, and 65xxxx
- 100% of the transactions greater than $2,500 in accounts 63xxxx, 64xxxx, and 65xxxx.
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Q: Are all the transactions reviewed during the month-end reconciliation process part of the sample?
A: In most cases, transactions needing review are in the set of sampled transactions. However, additional recommended transactions may include:
- All payroll items
- Indirect costs
- Budgetary items
- Revenue
Further review may be required for grants that are closing; all transactions within the last 90 days of an award should be reviewed.
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Q: Can I review more than the sampled transactions?
A: Except for grants in the ending process, review the sampled transactions according to the global profile. In the future, departments might be able to create their own profiles to target specific transactions.
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Q: When can I begin reviewing the sampled transactions?
A: Use the following method:
- Review 100% of the transactions above $2,500 before the ledger closes and the sampled transactions are chosen. Use the Ledger Reviewer and mark the status code for each transaction above $2,500.
- Review sampled transactions once the month-end ledger is closed.
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Q: Do I have to review all transactions in the sample?
A: Yes. Review all transactions in the sample and indicate "OK" if you don't find an error. If you find an error, choose the appropriate problem code. See a list of problem codes.
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Q: What should I do if I find an error in a transaction?
A: If you identify an error in the sampled transaction, choose the correct problem code. See a list of problem codes. After the error has been identified with a code and corrected, change the status to "OK."
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Q: What should I do if none of the problem codes fit my problem?
A: Contact your MSO and discuss the error and the various problem code possibilities. If you need further clarification, contact Debbie Rico, (858) 822-2797.
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Q: Why can’t I change the problem code for a transaction?
A: If a drop-down list does not appear, and you can't change the problem code for a transaction, it means another person with a different group identifier reviewed the transaction. The first group identifier to change a problem code for a transaction becomes the "owner" of the transaction status. This might happen when OPAFS is sampling ENPETs and marked an ENPET for further review, or if you use more than one group identifier within your department. To change the problem code in a case like this, click History, see who changed the code, and contact the person directly to change the code again.
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Q: Once I’ve corrected an error, should I update the problem code?
A: Yes. Change the status to "OK" when you correct the error.
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Q: How do I handle reconciliation for transactions that occur near the end of a grant's budget period?
A: The sampling process will continue to identify transactions needing review. Each department makes its own decision about reviewing additional transactions. The following is recommended:
- Review 100% of the transactions within 90 days of an award closing.
- Use the Account Code Summary report in FinancialLink to review for unallowable account codes.
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Q: How do I handle reconciliation for transactions that occur after the end of a grant's budget period?
A: Departments should reconcile all transactions occurring after the end of the grant, process appropriate expense transfers, and list relevant information in the comment field if the transaction is valid.
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Q: What if I discover errors in unsampled transactions during a grant closeout or an audit? Will I be held responsible? What should I do?
A: The sampling process assumes Business Office front-end controls and reviews are in place. Staff will not be held accountable for disallowed transactions if:
- Audits by federal or internal auditors identify items that are not part of the sample review.
- Effective controls are in place and transactions are reviewed following the Cost Accounting Standards and the sampling guidelines. See Circular A-21 Excerpt.
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Q: In my current financial system, I reconcile ledger transactions and also generate reports. What types of reports does the transaction sampling process have?
A: Sampled transactions are reviewed using the Ledger Reviewer in FinancialLink. You can continue to generate reports using your own system, or you can use the various reports, such as Expanded Budget Summary, currently offered by FinancialLink.
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Questions? If you have technical questions about the Ledger Reviewer tool, contact Mojgan Amini, (858) 534-1023. For policy questions, contact Debbie Rico, (858) 822-2797.
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